Publications that covered this story include: Car Dealer Magazine, 1 April and AM-online, 1 April.
UHY Hacker Young’s automotive team are delighted to announce the sale of Maserati in Cardiff to Motorline. The South East based dealer group has in recent years expanded into Bristol and Cardiff area, so the acquisition fits well with their existing infrastructure.
The Maserati business has been acquired from Arrow Automotive Limited for an undisclosed sum and will be the second Maserati dealership in the Motorline Group.
Glen Obee, Chairman of Motorline said:
“I am delighted we have acquired the Cardiff Maserati dealership and this highlights our commitment to Maserati after opening the dealership in Maidstone last year. We see a bright future for the brand and look forward to developing the relationship further.”
David Kendrick, Partner at UHY Hacker Young and Chair of our automotive sector said:
“This is a great acqusition for Motorline and fits well with their other representation points in the area. We are seeing more transactional activity than ever with some strong values being atrributed to motor retail businesses. This deal again highlights the consolidation that continues to take place in the sector.”
Motorline represents Volkswagen , Toyota , Lexus , Hyundai , Maserati, Renault , Dacia, Skoda , Nissan and Peugeot as main car dealers with both new, used and aftersales activities located in Ashford, Canterbury, Crawley, Dartford, Horsham, Maidstone, Tunbridge Wells, Coulsdon, Bristol, Newport and Cardiff.
The team at HRC Law advised the vendors on the sale and consisted of Mark Traynor, Richard Whalley, Helen Marsh and Sherrelle Scott. Speaking of the deal, Mark Traynor, a Partner at HRC Law said “Advising the seller on this transaction highlights our growing nationwide reputation in this increasingly active sector.”